Casino operator SkyCity has reported a 38 percent drop in full year (FY26) net profit as it undergoes a restructuring."We are becoming a simpler, smarter, and more connected business , actioning further savings to deliver annualised benefits of $30m in FY27 and growing to total benefits of $70m in FY28," chief executive Jason Walbridge said."This is a strategic response to our evolving operating environment and the future direction of our business, including the regulation of online gambling."Key numbers for the 12 months ended June compared with a year ago:Net profit $18.2m v profit $29.2m down 38%Revenue $878.9m v $852.2m up 6.5%Underlying profit $38m v $71.5m down 47%Full year dividend nil v nilEarnings per share 1.8 cents per share v 3.9cps down 54%SkyCity did not provide an profit outlook with its report, but would update the market at the annual shareholders meeting in October."One-off costs from our cost-out programme will likely affect reported earnings," Walbridge said."Capital expenditure in FY27 is forecast to be in the range of $80m - $100m and this includes retention payments for the NZICC and is before any costs for online licences."Focus for the business is to execute on key priorities, return to positive cash flow and when achieved, reinstate dividends."Last week, it was reported that hundreds of jobs were at risk because of the economic challenges facing the company.It told RNZ that most of the roughly 200 potentially affected roles were in Auckland.